Crypto market grows by $13 billion as bitcoin breaks the $10,000 threshold for the first time since February | Currency News | Financial and Business News
Reuters
The cryptocurrency market added $13 billion in value over the past day as bitcoin jumped more than 6% Thursday evening.
Bitcoin has rallied more than 100% from its March 16 low and has eclipsed $10,000 for the first time since February.
The three major reasons for the move include anticipation of the next bitcoin halving, institutional investors adding exposure, and the perception that bitcoin would protect against a surge in inflation.
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Bitcoin jumped 6% on Thursday, causing a $13 billion surge in market value for the entire cryptocurrency market, according to data from Coindesk.
The entire cryptocurrency market is worth a combined $267 billion as of Friday morning, data from CoinMarketCap shows.
The top three...